Dollar lifts on risk appetite

THE Australian dollar is modestly higher against its US counterpart with investors seemingly willing to take on greater risks.

THE Australian dollar is modestly higher against its US counterpart with investors seemingly willing to take on greater risks.

At 0635 AEST on Friday, the Australian dollar was worth 75.27 US cents, up from 75.02 US cents on Thursday.

BK Asset Management’s managing director of FX Strategy Kath Lien said the main reason for the local currency’s lift was investor sentiment. “The Australian dollar benefited from improving risk appetite,” she said in a note on Friday morning.

The Australia dollar also rose against the yen and the euro.

CURRENCY SNAPSHOT AT 0635 AEST ON FRIDAY

One Australian dollar buys:

* 75.27 US cents, from 75.20 on Thursday

* 82.26 Japanese yen, from 81.79 yen

* 70.23 euro cents, from 70.02 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Originally published as Dollar lifts on risk appetite